ASR Vermogensbeheer N.V. Buys 4,815 Shares of TC Energy Corporation $TRP

Key Points

• ASR Vermogensbeheer N.V. increased its stake in TC Energy Corporation by 8.4%, owning a total of 61,839 shares valued at approximately $3,013,000 as reported in the latest SEC filing.
• TC Energy's latest quarterly earnings showed an EPS of $0.59, slightly exceeding estimates and indicating a return on equity of 11.22% despite revenue being lower than expected at $1.82 billion.
• The company announced an increase in its quarterly dividend to $0.6148, resulting in an annualized dividend yield of 4.5%, with a payout ratio of 84.30%.

ASR Vermogensbeheer N.V. boosted its stake in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 8.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,839 shares of the pipeline company's stock after acquiring an additional 4,815 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in TC Energy were worth $3,013,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in TC Energy by 1.1% during the first quarter. Bank of New York Mellon Corp now owns 915,241 shares of the pipeline company's stock worth $43,209,000 after acquiring an additional 10,227 shares during the last quarter. Farther Finance Advisors LLC increased its stake in TC Energy by 77.7% during the first quarter. Farther Finance Advisors LLC now owns 2,299 shares of the pipeline company's stock worth $110,000 after acquiring an additional 1,005 shares during the last quarter. Wealthstar Advisors LLC bought a new stake in TC Energy during the first quarter worth approximately $432,000. FORA Capital LLC bought a new stake in TC Energy during the first quarter worth approximately $776,000. Finally, Golden State Wealth Management LLC increased its stake in TC Energy by 222.2% during the first quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock worth $51,000 after acquiring an additional 742 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TRP has been the topic of several analyst reports. US Capital Advisors cut TC Energy from a "moderate buy" rating to a "hold" rating in a research note on Thursday, August 21st. Barclays restated an "overweight" rating on shares of TC Energy in a report on Thursday, August 14th. Wall Street Zen downgraded TC Energy from a "hold" rating to a "sell" rating in a research report on Friday. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of TC Energy in a research report on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Stock Up 1.6%

Shares of NYSE:TRP opened at $55.16 on Friday. TC Energy Corporation has a 52-week low of $43.51 and a 52-week high of $55.34. The stock has a market cap of $57.38 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 5.21 and a beta of 0.75. The business's 50 day moving average is $51.37 and its 200 day moving average is $49.61. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.The company had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $2.56 billion. During the same quarter in the prior year, the firm earned $0.79 earnings per share. Sell-side analysts predict that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be paid a $0.6148 dividend. This represents a $2.46 annualized dividend and a yield of 4.5%. This is an increase from TC Energy's previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, September 29th. TC Energy's payout ratio is currently 84.30%.

About TC Energy

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.

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